Hindalco Industries may gain after accepting Metal X's offer to buy its subsidiary

Hindalco Industries announced that it has communicated to Aditya Birla Minerals (ABML) its intention to accept the offer by Metal X to acquire shares of ABML subject to receiving the approval of the Reserve Bank of India and no bona fide superior proposal being announced by a third party within 5 business days of Metals X announcing its intention to make the aforesaid offer. Metal X, a listed company in Australia has made an announcement regarding its intention to improve its ongoing takeover offer for acquiring shares of ABML under the relevant laws of Australia. ABML is a subsidiary of Hindalco Industries and listed on Australian Stock Exchange. Metal X has offered 1 fully paid ordinary share in Metals X for every 4.5 ABML shares and A$0.08 in cash for every ABML share held. The offer is conditional upon Hindalco's acceptance and confirmation that it has obtained the requisite approval of Reserve Bank of India in this regard. The announcement was made before market hours today, 26 April 2016.

Sun Pharmaceutical Industries announced that Indian Council of Medical Research (ICMR), Ministry of Health & Family Welfare (MOHFW), Govt. of India, Govt. of Madhya Pradesh and Sun Pharma entered into a public-private-partnership agreement for Malaria Free India and other innovation in preventive health. This was announced by Dr Soumya Swaminathan, Director General - ICMR, Principal Secretary Health Mrs. Gauri Singh Govt of Madhya Pradesh and Dilip Shanghvi, Managing Director, Sun Pharma as a unique effort to draw public - private sector collaboration in promoting preventive health measures. The public private-partnership stakeholders will jointly undertake malaria control & elimination programme by setting-up Management & Technical Committees to provide oversight for disease surveillance & elimination. The announcement was made after market hours yesterday, 25 April 2016.

Under the aegis of this unique public-private-partnership, ICMR, MOHFW, Govt. of India, Govt of Madhya Pradesh and Sun Pharma will establish a malaria elimination demonstration project titled Malaria Free India, to support the national framework for elimination of malaria in India. The demonstration project will be launched in one of the most malaria endemic districts of Madhya Pradesh and implemented in a phased manner, beginning with Mandla district of Madhya Pradesh. The public-private-partnership stakeholders will execute the malaria elimination programme over a span of 3 to 5 years covering over 1,200 villages in Mandla district

ABB India's net profit rose 30.74% to Rs 70.98 crore on 11% rise in total income to Rs 2015.08 crore in Q1 March 2016 over Q1 March 2015. The announcement was made after market hours yesterday, 25 April 2016.

Indiabulls Housing Finance's consolidated net profit rose 22.58% to Rs 675.50 crore on 25.01% rise in total income to Rs 2647.18 crore in Q4 March 2016 over Q4 March 2015. The announcement was made after market hours yesterday, 25 April 2016.

Axis Bank and Maruti Suzuki India will announce their Q4 results today, 26 April 2016.

Tata Chemicals said that operations at the company's fertiliser plant at Babrala, Uttar Pradesh have resumed after temporary shutdown for scheduled maintenance. It may be recalled that the company had on 22 March 2016 informed about temporary shutdown of Babrala plant. The announcement was made after market hours yesterday, 25 April 2016.

Uttam Galva Steels (UGSL) said that India Ratings and Research (IndRa) has downgraded the company's LongTermIssuer Rating to 'IND D' from 'IND BBB+' while resolving the Rating Watch Negative (RWN). The agency has also downgraded the ratings on UGSL's various bank facilities to 'IND D' from 'IND BBB+'/RWN and 'IND A2'/RWN. The downgrade is driven by UGSL's ongoing delays in debt servicing since February 2016. The delays are a result of the liquidity stress currently being faced by the company given the challenging operating environment and its inability to refinance its longterm borrowings according to its earlier proposed refinancing scheme. The agency has taken a consolidated view of UGSL and its subsidiaries. The announcement was made after market hours yesterday, 25 April 2016.

Astra Microwave Products said that CRISIL has reaffirmed and assigned CRISIL A+/ Stable for the long-Term bank facilities and reaffirmed CRISIL A1 for the Short-Term bank facilities of the company. The announcement was made after market hours yesterday, 25 April 2016.

Vakrangee announced corporate agency tie up with Reliance General Insurance Company to distribute general insurance products through Vakrangee's distribution network. Citizens, especially in un-served and underserved areas shall be able to access quality general insurance products and services offered/to be offered by Reliance General Insurance Company, Vakrangee said. The announcement was made at fag end of the day's trading session yesterday, 25 April 2016.

Shoppers Stop announced that the company has opened its "Shoppers Stop" store at Logix City Centre Mall, Noida. With this, the company has now 79 "Shoppers Stop", (including five airport stores) stores under its operations. The announcement was made before market hours today, 26 April 2016.

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